Chairperson’s Corner

By Carlos Arocha

International News, November 2022

In this fifth issue of International News of 2022, we feature the following contributions:

• Ruben John John Callo, FSA, FIAA, FLMI, and the SOA’s Ambassador to Australia under the Ambassador Program, presents an illustrative study aimed at helping consumers choose life insurance products using the “customer value per dollar” methodology, and although examples included relate to the Australian market, the methodological principles can be adopted in other markets.
• Shirley Z. Song, FSA, MAAA, Member of the International Section Council, Josh Dobiac, MS, CAIA, and Yang Jing, deal with the Targeted Improvements to the Accounting of Long-Duration Contracts (LTDI), and the fact that both IFRS and US GAAP frameworks are evolving into a new financial reporting framework. The implications for US insurers are discussed.

In other news, the section council, in partnership with Social Insurance and Public Finance section, has commissioned a guide to paid family and medical leave, a study to analyze current practice in the US and selected countries.

On November 7, 2022, the International Section will offer a webinar on effective visuals using ggplot2, an open-source data visualization package for the statistical programming language R. Learn to utilize one of the most requested skills in the actuarial science job advertisements!

As always, we are looking to recruit volunteers for our international activities, and we are also contemplating introducing micro-volunteering tasks, where a modest amount of time can be invested in specific tasks. Should you be interested in micro-volunteering, please contact me at ca@ArochaAndAssociates.ch.

Carlos Arocha, FSA, is managing partner of Arocha & Associates, an actuarial consulting firm based in Zurich, Switzerland. He can be reached at ca@ArochaAndAssociates.ch